Real Estatehttp://www.businessinsider.com/thelife/real-estate
en-usSun, 02 Aug 2015 15:19:31 -0400Sun, 02 Aug 2015 15:19:31 -0400The latest news on Real Estate from Business Insiderhttp://static3.businessinsider.com/assets/images/bilogo-250x36-wide-rev.pngBusiness Insiderhttp://www.businessinsider.com
http://www.businessinsider.com/a-retired-computer-scientist-is-selling-his-800-acre-ranch-for-1095-million-2015-7A retired computer scientist is selling his 800-acre ranch for $10.95 millionhttp://www.businessinsider.com/a-retired-computer-scientist-is-selling-his-800-acre-ranch-for-1095-million-2015-7
Sun, 02 Aug 2015 11:04:48 -0400Madeline Stone
<p><img style="float:right;" src="http://static4.businessinsider.com/image/55bb81242acae78a008bbe9a-1422-1067/sky-river-003.jpg" alt="jim mitchell house" data-mce-source="Hall and Hall" /></p><p>A nearly 800-acre ranch belonging to retired computer scientist and engineer Jim Mitchell and wife Judy Wainwright has come on to the market for $10.95 million, <a href="http://www.wsj.com/articles/the-wright-stuff-in-steamboat-springs-1438263451?tesla=y">according to the Wall Street Journal</a>.</p>
<p>The ranch, which includes a 9,500-square-foot house inspired by a Frank Lloyd Wright design, is located in Steamboat Springs, Colorado and is a haven for local wildlife like bald eagles and deer.</p>
<p><span>Mitchell spent decades working with computers&nbsp;and became wealthy enough to buy the ranch and his own plane.</span></p>
<p><span>"<span>I got into computers in the early days and wrote my fist line of code in 1962," <a href="http://www.wsj.com/articles/the-wright-stuff-in-steamboat-springs-1438263451?tesla=y">he told the WSJ</a>.&nbsp;</span></span></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/uber-investor-jason-calacanis-is-selling-his-los-angeles-home-for-3-million-2015-7" >Early Uber investor and serial entrepreneur Jason Calacanis is selling his Los Angeles home for $3 million</a></strong></p>
<h3>The home is perched on a hill above an area to the north of Steamboat, called Elk River Valley.</h3>
<img src="http://static4.businessinsider.com/image/55bb8092371d22c6178ba3ac-400-300/the-home-is-perched-on-a-hill-above-an-area-to-the-north-of-steamboat-called-elk-river-valley.jpg" alt="" />
<br/><br/><h3>Mitchell and Wainwright purchased the home in 1999. They spent several years constructing the home, which was inspired by a Frank Lloyd Wright design.</h3>
<img src="http://static2.businessinsider.com/image/55bb800e371d2215008bb8c2-400-300/mitchell-and-wainwright-purchased-the-home-in-1999-they-spent-several-years-constructing-the-home-which-was-inspired-by-a-frank-lloyd-wright-design.jpg" alt="" />
<br/><br/><h3>"We hiked up there in snowshoes in the winter with the architect and within 15 minutes we said the house has to optimize the views and has to have lots of windows," Mitchell told the WSJ.</h3>
<img src="http://static4.businessinsider.com/image/55bb8007371d22462c8b95fa-400-300/we-hiked-up-there-in-snowshoes-in-the-winter-with-the-architect-and-within-15-minutes-we-said-the-house-has-to-optimize-the-views-and-has-to-have-lots-of-windows-mitchell-told-the-wsj.jpg" alt="" />
<p><p><em>Source: <a href="http://www.wsj.com/articles/the-wright-stuff-in-steamboat-springs-1438263451?tesla=y">WSJ</a></em></p></p>
<br/><br/><a href="http://www.businessinsider.com/a-retired-computer-scientist-is-selling-his-800-acre-ranch-for-1095-million-2015-7#/#all-of-those-windows-make-for-a-dramatic-scene-when-the-house-is-lit-up-at-night-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/adderall-add-adhd-amphetamine-drug-effects-body-2015-6">What Adderall is actually doing to your body</a></p> http://www.businessinsider.com/sleepless-penthouse-owner-slaps-rooftop-bar-with-15-million-lawsuit-2015-7Here's what happens when you mess with a millionaire's sleep and leave trash in his elevatorhttp://www.businessinsider.com/sleepless-penthouse-owner-slaps-rooftop-bar-with-15-million-lawsuit-2015-7
Fri, 31 Jul 2015 17:33:24 -0400Dennis Green
<p><img style="float:right;" src="http://static3.businessinsider.com/image/55bbd9b0371d22ce178bbae7-800-600/54 thompson street.jpg" alt="54 Thompson Street" data-mce-source="Streeteasy" data-link="http://streeteasy.com/property/790205-52-thompson-street-ph" /></p><p>A Manhattan man is reportedly having a rough time with his&nbsp;$10 million "dream&nbsp;penthouse" loft. But it has nothing to do with the&nbsp;7,364-square-foot home itself, which was recently featured in HGTV's&nbsp;&ldquo;Selling New York.&rsquo;&rsquo;</p>
<p><span>Rocco Vogel</span>&nbsp;is reportedly&nbsp;suing the Soho building's ground floor tenant, a Mediterranean restaurant called Pera Soho, for allegedly making a portion of the&nbsp;rooftop common area a bar, according to the&nbsp;<a href="http://nypost.com/2015/07/30/illegal-rooftop-bar-is-ruining-my-10-5m-penthouse-lawsuit/">New York Post.</a></p>
<p>Vogel claims&nbsp;that the restaurant's alleged illegal use of the building&nbsp;is keeping him up. The&nbsp;revelers reportedly&nbsp;enjoy&nbsp;the bar's loud music and smoke&nbsp;on the roof &mdash; both tobacco and marijuana &mdash; way late into the night,&nbsp;making it hard for him and his family to catch some shut-eye.</p>
<p>He told the Post that these "intoxicated" bar goers &mdash; on their way to and from the rooftop &mdash; have almost gotten off the elevator that leads into his apartment, causing him "fear and apprehension."&nbsp;He also claims they spill drinks and leave refuse in the elevator.</p>
<p>Vogel is asking for damages to the tune of $1.5 million and has named the building's management in the suit.&nbsp;</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/the-15-most-expensive-houses-for-sale-in-america-2015-7" >The 15 most expensive houses for sale in America</a></strong></p>
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<p><a href="http://www.businessinsider.com/sleepless-penthouse-owner-slaps-rooftop-bar-with-15-million-lawsuit-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/slacking-red-bull-backflip-sport-baylines-2015-6">People doing backflips on a two-inch wide strap is a real sport called slacklining</a></p> http://www.businessinsider.com/mariah-carey-rents-10k-a-night-villa-through-airbnb-2015-7Check out Mariah Carey's $10,000-a-night Airbnb rental on Malibu's exclusive 'Billionaires' Beach'http://www.businessinsider.com/mariah-carey-rents-10k-a-night-villa-through-airbnb-2015-7
Fri, 31 Jul 2015 15:32:46 -0400Brittany Fowler
<p><img src="http://static1.businessinsider.com/image/55bbbcd9371d2277018bbac8-5616-2808/ae802fa1_original.jpg" alt="mariah home" data-mce-source="Courtesy of airbnb" /></p><p>Everyone seems to be renting these days &mdash; even celebrities.&nbsp;</p>
<p>For $10,000 a night, Mariah Carey is&nbsp;relaxing in a $30 million, oceanfront Mediterranean villa before she&nbsp;jets off to Israel for a late August concert, according to <a href="http://pagesix.com/2015/07/29/inside-mariah-careys-10k-a-night-airbnb-rental/" target="_blank">Page Six</a> and <a href="https://instagram.com/p/5w29mVLeK7/?taken-by=mariahcarey" target="_blank">the singer's Instagram</a>. She's joined by her billionaire boyfriend, <a href="http://www.businessinsider.com/model-miranda-kerr-dating-australian-billioniare-james-packer-2013-12" target="_blank">James Packer</a>.</p>
<p>The rental villa is located&nbsp;on Carbon Beach (aka&nbsp;"Billionaires' Beach"), where Carey could run into residents like Jeffrey Katzenberg, David Geffen,&nbsp;Irving Azoff, and Larry Ellison.&nbsp;Carey is&nbsp;renting the villa through <a href="https://www.airbnb.com/" target="_blank">Airbnb</a>, an online marketplace that connects travelers and homeowners.&nbsp;</p>
<p>Keep scrolling for an inside-out tour and check out the <a href="https://www.airbnb.com/rooms/7501748" target="_blank">listing</a>&nbsp;if you want to be next in line.&nbsp;</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/phil-collins-drops-33-million-on-jennifer-lopezs-former-miami-home-2015-6?op=1#ixzz3hUeAetFf" >Phil Collins just spent $33 million on Jennifer Lopez's former Miami mansion</a></strong></p>
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<h3>French doors, high wooden ceilings, and archways give this four bedroom, four bathroom villa a Mediterranean feel.</h3>
<img src="http://static4.businessinsider.com/image/55bbb0fa371d2210008bba6e-400-300/french-doors-high-wooden-ceilings-and-archways-give-this-four-bedroom-four-bathroom-villa-a-mediterranean-feel.jpg" alt="" />
<br/><br/><h3>The fluid living areas are perfect for hosting happy hours and parties.</h3>
<img src="http://static4.businessinsider.com/image/55bbb000371d222e008bbbdf-400-300/the-fluid-living-areas-are-perfect-for-hosting-happy-hours-and-parties.jpg" alt="" />
<br/><br/><h3>Not to mention the entertainment bar, where Carey can entertain her musician friends on the West Coast.</h3>
<img src="http://static2.businessinsider.com/image/55bbb0c1371d22a10e8bb9e0-400-300/not-to-mention-the-entertainment-bar-where-carey-can-entertain-her-musician-friends-on-the-west-coast.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/mariah-carey-rents-10k-a-night-villa-through-airbnb-2015-7#/#the-singeractressmom-can-whip-up-breakfast-for-her-two-children-in-the-spacious-gourmet-kitchen-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/song-made-using-coins-drummer-music-video-2015-7">This drummer created a whole song by only using the sound of coins</a></p> http://www.businessinsider.com/how-to-price-your-home-to-sell-2015-7How to price your home to sellhttp://www.businessinsider.com/how-to-price-your-home-to-sell-2015-7
Fri, 31 Jul 2015 10:09:00 -0400AJ Smith
<p class="title"><a href="https://smartasset.com/mortgage/home-value-estimator"><img style="float:right;" src="http://static5.businessinsider.com/image/55b921302acae78a008bb3f8-2614-1960/home for sale-3.jpg" alt="home for sale" data-mce-source="Joe Raedle/Getty Images" />Estimating your home's value</a> can be tricky &mdash;&nbsp;but doing it well can make a big difference in how quickly you are able to sell your home.</p>
<p class="title">When you are trying to attract buyers for your home, pricing and packaging are more important.</p>
<p class="title">Depending on your mortgage situation and your specific home, you can get to work setting your house apart in a positive way.</p>
<p class="title">Check out the tips below to help you find that "perfect&rdquo; price to help your property sell.</p>
<h3><strong>Research the area.</strong></h3>
<p>It's generally not a good idea to just pick a listing price out of thin air. Doing your homework will help you discover what your home is actually worth. An experienced appraiser or <a href="https://smartasset.com/mortgage/what-kind-of-real-estate-agent-do-you-need">real estate agent</a> can help you with a comparative market analysis to see what sellers near you are getting for their homes.</p>
<p>It is also possible to get some information on your own with the help of sites like Trulia and Zillow. It's important to factor in your individual situation (how soon you want or need to sell for example) as well as statistics and numbers to come to a price range realistic for your neighborhood.</p>
<h3><strong>Leave room for negotiation &mdash; but don't overreach.</strong></h3>
<p>Now that you have found a good range or target number in mind, you can think about the price that will motivate people. You likely don't want to feel like you got less than your home is worth, what you expected or what you could have gotten. At the same time, no buyer wants to overpay. It's a good idea for your price to give both parties <a href="http://www.credit.com/loans/mortgage-questions/how-to-negotiate-best-price-when-buying-home-purchase-offers/?utm_source=BI&amp;utm_medium=content&amp;utm_content=IB_3&amp;utm_campaign=price_home_sell">a little wiggle room to work with</a>. If you price it too high, you risk being ignored by certain buyers and if it's too low, you risk being disappointed after the sale.</p>
<h3><strong>Think like a buyer.</strong></h3>
<p>One of the best ways to succeed as a seller is to consider the thoughts of a buyer. In addition to understanding the market and knowing local price points, it's important to consider the time of year. Spring and summer are hot seasons for the housing market because people with children want to get moving before the start of the school year. It's also a good idea to stay informed about<a href="http://www.credit.com/personal-finance/how-interest-rates-work/?utm_source=BI&amp;utm_medium=content&amp;utm_content=IB_4&amp;utm_campaign=price_home_sell"> interest rates</a>, which can have a big impact on how many potential buyers are out. You can also think about what you value in a home like large yard, updated appliances and room flow. Buyers likely value similar things so <a href="http://www.credit.com/loans/mortgage-questions/how-find-good-realtor-real-estate-agent/?utm_source=BI&amp;utm_medium=content&amp;utm_content=IB_5&amp;utm_campaign=price_home_sell">talk to your agent</a> about current buyer trends and how to highlight your home's best assets.</p>
<p>When you are putting your home on the market, you may get emotional but it's a good idea to let the facts &mdash;&nbsp;and real estate experts &mdash;&nbsp;guide your decisions. (And if you will also be buying a new home, it's smart to make sure your own credit is in top shape. You can get a <a href="https://www.credit.com/free-credit-report-card/?utm_source=BI&amp;utm_medium=content&amp;utm_content=IB_6&amp;utm_campaign=price_home_sell">free credit report summary,</a> updated every 30 days, from Credit.com.)</p>
<h3>More from Credit.com</h3>
<ul>
<li><a href="http://www.credit.com/loans/mortgage-questions/how-selling-your-home-can-impact-your-credit/?utm_source=BI&amp;utm_medium=content&amp;utm_content=BO_1&amp;utm_campaign=price_home_sell">How Selling Your Home Can Impact Your Credit</a></li>
<li><a href="http://www.credit.com/loans/mortgage-questions/how-to-close-on-a-home-or-real-estate-deal/?utm_source=BI&amp;utm_medium=content&amp;utm_content=BO_2&amp;utm_campaign=price_home_sell">How to Close on a Home Without Problems</a></li>
<li><a href="http://www.credit.com/loans/mortgage-questions/how-to-get-home-appraisal-and-home-inspection/?utm_source=BI&amp;utm_medium=content&amp;utm_content=BO_3&amp;utm_campaign=price_home_sell">How to Get a Home Appraisal &amp; Inspection</a></li>
</ul><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/car-salesman-tricks-2015-7" >A former car salesman reveals 4 tricks dealers use to get you to spend — and how to outsmart them</a></strong></p>
<p><a href="http://www.businessinsider.com/how-to-price-your-home-to-sell-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/sharks-spotted-coast-england-2015-7">People were baffled by 50 sharks circling in shallow waters off the English coast</a></p> http://www.businessinsider.com/san-francisco-landlords-dont-want-to-rent-to-startups-2015-7San Francisco landlords don't want to rent to startupshttp://www.businessinsider.com/san-francisco-landlords-dont-want-to-rent-to-startups-2015-7
Thu, 30 Jul 2015 19:08:44 -0400Jason Freedman
<p>There is a funny dynamic going on in the San Francisco office market. Landlords are thrilled. The strength of the startup economy and the migration of startups from the Peninsula to San Francisco have led to the lowest vacancy rates ever and tremendous increases in price per square foot. The 42Floors research team contacted Garrick Brown, Vice President of Research at commercial real estate brokerage DTZ.&nbsp;&nbsp; Check out the crazy rise in prices and corresponding drop in vacancy rates.</p>
<p>&nbsp;</p>
<p><img src="http://static1.businessinsider.com/image/55baa8e12acae7a6098bb9c6-975-527/untitled.png" alt="SF office space" data-mce-source="42Floors Office Space Listing Data and DTZ" data-link="https://42floors.com/blog/cre/landlords-are-trying-not-to-rent-startups" /></p>
<p>Because of this incredible demand for office space and the resulting low vacancy rates, landlords have been able to push rents higher and higher, which has allowed them to take tremendous amounts of money off the table as well as continue to invest in their assets. So why do you still hear of startups struggling to get their offers accepted by a landlord? To the casual observer you may just believe that it is a tight market and the competition is fierce, but actually there is more going on.</p>
<p>Many landlords (though certainly not all) are trying as hard as they can to get non-startup tenants right now. We at 42Floors recently experienced this firsthand when we were searching for our new office space.</p>
<p>So our 42floors research team started digging and we found that there are actually a whole bunch of reasons landlords are avoiding startups right now, even though they&rsquo;re grateful for having them as current tenants in their buildings. &nbsp;Here&rsquo;s what we learned:</p>
<h2>Why Landlords Don&rsquo;t Want to Lease to Any More Startups</h2>
<p><strong><img style="float:right;" src="http://static6.businessinsider.com/image/55baadbf371d2223518baf08-594-396/foos.jpg" alt="foos" data-mce-source="Photo by Mario Tama/Getty Images" />They want a balanced portfolio.</strong></p>
<p>This is the most common response we&rsquo;ve heard from landlords. Landlords look at their tenants as a portfolio of revenue streams and risks. Diversifying that portfolio across their buildings means that they want leases that end at different dates so that a building never goes a hundred percent empty. And they want varied credit risks that are uncorrelated from each other. This is where it hits startups really hard.</p>
<p>When a landlord already has a large percentage of their lease revenue coming from startups, they look to diversify it with non-startup leases under the assumption that if the startup economy goes south, it will take many of the startups with it. Many of the landlords remember back to the dot com bust. Back then, it was law&nbsp;firms, architecture firms and other slower growth, but profitable companies that kept the dollars flowing when the startup offices went vacant.</p>
<p>If you&rsquo;re a startup putting an offer for a space in which a non-startup is competing on even remotely similar terms, the landlord that is over-weighted with startup leases will likely choose what is not necessarily a safer bet, but is certainly a different bet.</p>
<p><strong>Landlords have almost no tools to evaluate a startup&rsquo;s credit risk.</strong></p>
<p>Here in San Francisco, the startup capital of the world, even a full decade after the startups moved from Silicon Valley to San Francisco, landlords are still struggling to evaluate the credit risk of a startup. The standard tool of choice for all landlords is to read a potential tenant&rsquo;s financial statements. When you read the financial statement of the average startup, it&rsquo;s not pretty. Even a relatively low burning startup still looks downright scary to a landlord &ndash; costs exceeding revenue, balance sheet dwindling down, etc.</p>
<p>I recently had a landlord ask me about one of the highest profile unicorn startups in the city, wanting to know if it was a reasonable credit risk for one of his buildings. As I tried to explain that their costs were so high because of their tremendous growth rate, this landlord&rsquo;s eyes just glazed over. He eventually declined the lease offer and picked a slower growing (but traditionally profitable) energy company.</p>
<p>Landlords don&rsquo;t want to get in the startup evaluation business. While they do like the prestige of a famous startup and what it may bring to the environment of their building, they&rsquo;re mostly just afraid of the company failing in the next 5 years.</p>
<p><strong><img style="float:right;" src="http://static4.businessinsider.com/image/55baac47371d2211008bb7ce-594-396/office.jpg" alt="Office" data-mce-source="Photo by Oli Scarff/Getty Images" />Most lease terms are longer than the current financial runway of a startup.</strong></p>
<p>Scan our list of <a href="https://42floors.com/office-space/us/ca/san-francisco">office leases</a>. You&rsquo;ll see that most are pushing five years on anything over 2,500 square feet right now. Landlords are simply taking advantage of the fact that it&rsquo;s a tight market and they can push for longer terms even if it&rsquo;s not what the tenant wants. Even the best funded startup almost never has a five-year runway.</p>
<p>While a&nbsp;more established profitable companies may have a much smaller balance sheet than a well funded startup, they can show an infinite runway.</p>
<p><strong>They&rsquo;re fatigued with sub-sub-subleases.</strong></p>
<p>Startups that do well may have to lease a space for 5 years, only to move out after only nine months because of their growth. To the startup this is fantastic news, but to the landlord it&rsquo;s the beginning of an annoying sublease process as they are constantly spending money on their lawyers to approve each sublease.</p>
<p>Our last office was leased to MoPub, which then had the lease taken over by Twitter following their acquisition, who then subleased it to us. We then sub-subleased half the space to Big Commerce, who grew out of it in 6 months and sub-sub-subleased it to another company, which split with it with one other startup.</p>
<p>At one point, we needed to change something. It required coordination of 5 signatories of 5 different companies, each counseled by their own broker and lawyer.</p>
<p><strong><img style="float:right;" src="http://static5.businessinsider.com/image/55baad332acae72c008bbcfc-396-594/forrent.jpg" alt="forrent" data-mce-source="(Photo by Joe Raedle/Getty Images)" />Landlords believe the economic apocalypse is coming.</strong></p>
<p>I&rsquo;m actually stunned how similar landlord opinions are in this regard. This little insight has spread through the landlords and brokerage market with incredible consistency: Most economic cycles are 7 to 10 years long. &nbsp;In 2018, it will have been 10 years since the last big economic dip. So simply by the law of averages, they&rsquo;re planning their office terms assuming there will be some big downturn in 2018 and they don&rsquo;t want to have startups that are dependent on future fundraising in their spaces when it hits.</p>
<p><strong>Even Large Security Deposits Don&rsquo;t Matter.</strong></p>
<p>In response to landlords being squeamish about startups&rsquo; risk, some startups are using their venture capital backed balance sheets to offer large security deposits. They are basically saying, &ldquo;Look, I know you don&rsquo;t trust my long term credit, but you&rsquo;ll have so much of my money in your bank account that even if I do default you&rsquo;ve got plenty of money to cover any vacancy period.&rdquo;</p>
<p>But, while a very large security deposit seems like it should calm those fears, most landlords, especially those who are professional asset managers, are trying to avoid problematic tenant situations, not just decrease the financial risk of the problem.</p>
<p>They know from experience that when a tenant starts to struggle to pay their rent, they begin negotiating with their landlord to give back some or all of their square footage early. If, as a landlord, you believe that the market will continue to go up then this is not such a bad thing because you may be getting space back that you can then re-lease at a higher price point. Landlords in this case can even double-dip by charging the outgoing tenant a penalty while simultaneously bringing in a new tenant at a higher price.</p>
<p>However, as a landlord, if you believe that we&rsquo;re near the top of the market (as most landlords in San Francisco do) then your expectation is that in 2, 3 or 4 years, when tenants want to do a renegotiation, you&rsquo;ll have to fill that space with a tenant at a lower price. And if that tenant signs on for a long term lease, then the landlord just locked in that lower price.</p>
<p>All of this hand wringing is the type of issue that the landlords are trying their hardest to avoid. What they want is to lock in these high prices that startups created and then pick non-startup tenants who can pay them. It&rsquo;s actually quite brilliant.</p>
<p>***&nbsp;</p>
<p>So what&rsquo;s a startup to do? The reality is the high price of commercial real estate is the inevitable flip side of the low cost of capital. If you want to be a San Francisco startup, you&rsquo;re going to pay up for office space. You&rsquo;re going to be in a competitive market with space going usually in days, but often before it even hits the market. And you&rsquo;re going to be stuck accepting longer term leases; and that&rsquo;s if you can successfully win the tenant selection process.</p>
<p>We&rsquo;re starting to see more startups fill-in in the ancillary areas outside of SoMA like the Mission, Mid Market and North of Market. We&rsquo;re starting to see a few make the jump to Oakland where space requirements doubled last year. And we&rsquo;re seeing a large rise in the sublease market as there are more and more startups with five-year leases that only stay for a-year-and-a-half.</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/twice-leaves-trash-behind-in-dolores-park-2015-7" >A startup celebrated being acquired by eBay by leaving trash in a park, only to return to clean it up</a></strong></p>
<p><a href="http://www.businessinsider.com/san-francisco-landlords-dont-want-to-rent-to-startups-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/pick-out-mens-jeans-denim-dress-gentleman-guide-fashion-2015-3">Here's how to get away with wearing jeans at the office</a></p> http://www.businessinsider.com/incredible-things-steve-cohen-buys-2015-7Here are some incredible toys hedge fund boss Steve Cohen has bought with his billionshttp://www.businessinsider.com/incredible-things-steve-cohen-buys-2015-7
Thu, 30 Jul 2015 11:24:04 -0400Eames Yates
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<p><span>SAC Capital founder Steve Cohen has an estimated net worth of more than </span><a href="http://www.forbes.com/profile/steve-cohen/">$11 billion</a><span>. These are some of the incredible things he does with all that money. </span></p>
<p><em>Produced by <a href="http://www.businessinsider.com/author/eames-yates">Eames Yates</a></em></p>
<p><strong style="line-height: 1.5em;">Follow BI Video:</strong><span style="line-height: 1.5em;"> </span><a href="https://www.facebook.com/BusinessInsider.Video" target="_blank">On Facebook</a> </p><p><a href="http://www.businessinsider.com/incredible-things-steve-cohen-buys-2015-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/ed-niles-designed-malibu-home-asks-53-million-2015-7This $53 million listing is one of the most uniquely designed mansions in Malibuhttp://www.businessinsider.com/ed-niles-designed-malibu-home-asks-53-million-2015-7
Tue, 28 Jul 2015 19:37:43 -0400Brittany Fowler
<p><img src="http://static5.businessinsider.com/image/55ba968a2acae7c23f8b9307-913-457/41800-pacific-coast-highway-16-940x600.jpg" alt="41800 Pacific Coast Highway 16 940x600" data-mce-source="Segal/Afshar" /></p><p>A shapely,&nbsp;feng shui marvel with a "barbecue tower" has hit the market for a whopping $53 million in Malibu, California.&nbsp;</p>
<p>The beachfront listing's asking price far exceeds those of nearby Pacific Coast Highway properties, which average between $15 and $25 million, according to Zillow.com.</p>
<p>The five-bedroom&nbsp;house&nbsp;was custom designed by modernist architect Ed Niles in collaboration with the homeowner, Dr.&nbsp;<span>Wei-Tzuoh Chen, who spent&nbsp;$15 million to build&nbsp;the feng shui home of his dreams.&nbsp;</span>Ari Afshar of The Agency and&nbsp;<span>Aitan Segal</span><span> of Berkshire Hathaway HomeServices California Properties</span>&nbsp;hold the <a href="http://www.theagencyre.com/for-sale/41800-pacific-coast-highway-malibu/#1" target="_blank">listing</a>.&nbsp;</p>
<p>Keep scrolling for an inside-out tour of this highly unique Malibu home.&nbsp;</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/west-mauis-hale-alii-estate-gets-4-million-price-chop-2015-7" >A rare beachfront estate in West Maui with a completely feng shui design just got a $4 million price chop</a></strong></p>
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<h3>Built in 2006, the home took six years to construct.</h3>
<img src="http://static2.businessinsider.com/image/55ba98f22acae710008bbcb9-400-300/built-in-2006-the-home-took-six-years-to-construct.jpg" alt="" />
<br/><br/><h3>About that barbecue tower: it's the red red-framed, glass structure you see to the right. Dr. Chen built it as a casual dining area where he and his family could barbecue and enjoy the ocean view without feeling the gusty winds or being too exposed to the elements.</h3>
<img src="http://static4.businessinsider.com/image/55ba96de2acae72d5f8bb2c1-400-300/about-that-barbecue-tower-its-the-red-red-framed-glass-structure-you-see-to-the-right-dr-chen-built-it-as-a-casual-dining-area-where-he-and-his-family-could-barbecue-and-enjoy-the-ocean-view-without-feeling-the-gusty-winds-or-being-too-exposed-to-the-elements.jpg" alt="" />
<br/><br/><h3>Twenty-nine-foot ceilings, glass window walls, and steal beams all contribute to this architectural masterpiece.</h3>
<img src="http://static5.businessinsider.com/image/55ba971e2acae711008bbb20-400-300/twenty-nine-foot-ceilings-glass-window-walls-and-steal-beams-all-contribute-to-this-architectural-masterpiece.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/ed-niles-designed-malibu-home-asks-53-million-2015-7#/#architect-ed-niles-told-the-wall-street-journal-that-the-design-is-a-village-of-forms-and-each-form-has-a-different-shape-depending-on-its-function-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/mark-cuban-401k-investing-shark-tank-2015-5">Mark Cuban explains why a 401(k) is a no-brainer</a></p> http://www.businessinsider.com/donald-trump-sells-penthouse-he-never-lived-in-for-21-million-2015-7Donald Trump just sold a Park Avenue penthouse he never lived in for $21 millionhttp://www.businessinsider.com/donald-trump-sells-penthouse-he-never-lived-in-for-21-million-2015-7
Tue, 28 Jul 2015 17:32:00 -0400Brittany Fowler
<p><img style="float:right;" src="http://static2.businessinsider.com/image/55b7b046371d2215008ba646-4600-3450/140630_ej_tpa_fl24_0012.jpg" alt="140630_EJ_TPA_fl24_0012" data-mce-source="Evan Joseph" /></p><p>Presidential-hopeful&nbsp;Donald Trump just unloaded a penthouse he&nbsp;never actually lived in for a cool $21 million.&nbsp;</p>
<p>Seeing as Trump never settled in here, the&nbsp;<span>Trump Park Avenue unit&nbsp;</span>looks nothing like his <a href="http://www.businessinsider.com/donald-trumps-homes-cars-planes-2015-6" target="_blank">gold-encrusted pad</a> at Trump Tower.</p>
<p>Actually, it looks more like&nbsp;I<a href="http://www.elledecor.com/celebrity-style/celebrity-homes/g273/ivanka-trump-apartment-kelly-behun-interiors/" target="_blank">vanka Trump's apartment</a>, also located at Trump Park Avenue.&nbsp;</p>
<p><span>The penthouse&nbsp;has been owned by Trump since he purchased the building&nbsp;(a hotel which he converted to a luxury condo building) in 2001.&nbsp; </span></p>
<p class="p1">According to The Wall Street Journal, the home&nbsp;was bought by a US couple with an international real estate portfolio.&nbsp;</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com.au/obama-familys-marthas-vineyard-summer-white-house-lists-for-22-point-5-million-2015-7#wallace-told-the-wall-street-journal-that-the-rural-towns-seclusion-was-what-drew-the-obamas-to-the-property-1" >The First Family's former summer rental just hit the market for $22.5 million</a></strong></p>
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<h3>The fact that Trump never lived in the apartment explains its understated décor. His primary residence at Trump Tower is drenched in gold, marble, and crystals.</h3>
<img src="http://static1.businessinsider.com/image/55b7b030371d22dc0b8b9995-400-300/the-fact-that-trump-never-lived-in-the-apartment-explains-its-understated-dcor-his-primary-residence-at-trump-tower-is-drenched-in-gold-marble-and-crystals.jpg" alt="" />
<br/><br/><h3>The clean white furniture, well-chosen art, and accent pieces have Ivanka's good taste written all over them. Her own apartment in the building has a similar style of décor.</h3>
<img src="http://static4.businessinsider.com/image/55b7b096371d2278018ba49a-400-300/the-clean-white-furniture-well-chosen-art-and-accent-pieces-have-ivankas-good-taste-written-all-over-them-her-own-apartment-in-the-building-has-a-similar-style-of-dcor.jpg" alt="" />
<br/><br/><h3>The 6,200-square-foot penthouse — accessible via a private elevator — sits on the 24th floor of the 32-story Trump Park Avenue. It was previously listed at $24.995 million.</h3>
<img src="http://static5.businessinsider.com/image/55b7b00c371d22ce178ba413-400-300/the-6200-square-foot-penthouse--accessible-via-a-private-elevator-sits-on-the-24th-floor-of-the-32-story-trump-park-avenue-it-was-previously-listed-at-24995-million.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/donald-trump-sells-penthouse-he-never-lived-in-for-21-million-2015-7#/#there-are-five-bedrooms-seven-bathrooms-and-one-powder-room-the-master-suite-is-appointed-with-dual-walk-in-closets-two-bathrooms-and-a-study-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/non-chemical-ways-sleep-fast-tips-hacks-sleeping-2015-7">9 non-chemical ways to fall asleep super fast</a></p> http://www.businessinsider.com/sc/real-estate-opportunity-in-fintech-2015-7This FinTech startup says it will take $13 trillion away from Wall Streethttp://www.businessinsider.com/sc/real-estate-opportunity-in-fintech-2015-7
Tue, 28 Jul 2015 10:00:00 -0400Sponsor Post
<p><img style="float:right;" src="http://static6.businessinsider.com/image/55b637356bb3f7971036befb-1200-924/3-world-trade-center.jpg" border="0" alt="3 World Trade Center"></p><p>If you've been paying attention to trends in finance, you know there's a lot of buzz around startups in financial technology, more commonly known as FinTech.</p>
<p>FinTech companies are using the power of the internet to disrupt the financial industry. By cutting out the middle man (i.e., banks) and lowering costs, they're able to make financial services far more efficient and consumer friendly.</p>
<p><a href="https://fundrise.com/?event=business-insider-2" target="_blank">Fundrise</a>, a DC-based startup, may be building the biggest opportunity in FinTech yet. While many of the industry’s high-profile startups like Lending Club have focused on consumer lending (a $420 billion market), Fundrise gives individuals the ability to invest in commercial real estate — a market worth $13 trillion, more than 35 times bigger than consumer lending.</p>
<h3><strong>Threatening Wall Street</strong></h3>
<p><span><span>FinTech's appeal is deceptively simple. It gives consumers easier, more direct access to financial transactions, allowing them to commit to investing (or lending, or borrowing) that much faster.&nbsp;</span></span></p>
<p>Right now, the spotlight on FinTech has never been brighter. In 2014, FinTech startups&nbsp;drew $12 billion in investments<span>, more than triple what was invested the year before.</span></p>
<p>And Wall Street has taken notice. This past April,&nbsp;JP Morgan CEO Jamie Dimon <a href="http://www.businessinsider.com/jamie-dimon-shareholder-letter-and-silicon-valley-2015-4" target="_blank">sounded the alarm</a> in a letter to shareholders, stating, "Silicon Valley is coming ... There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking." His point was that Wall Street needs to recognize the threat from startups like Fundrise, or else risk becoming obsolete.</p>
<h3>Opening up the real estate market</h3>
<p>Investing in real estate has historically been lucrative. The famous “Yale model,” which outperformed traditional stock and bond allocations for decades, allocates up to 20% of investment portfolios to real estate.&nbsp;In 2014, real estate investments <a href="https://fundrise.com/education/blog-posts/has-real-estate-joined-the-big-leagues?event=business-insider-2" target="_blank">averaged a 15% annual return</a>, compared to just 5.2% for stocks and 6% for US bonds.</p>
<p><img style="float:right;" src="http://static3.businessinsider.com/image/55b2a9096da811e724b07eae-1200-924/fundriseadjobs.jpg" border="0" alt="Fundrise_Ad_Jobs">Yet it's notoriously hard to break into that game if you aren’t a high-net-worth investor or a Wall Street investment fund. The world of commercial real estate investment can seem like an exclusive club, where the cost of entry can reach millions of dollars.</p>
<p>Fundrise's approach gives investors a way to bypass that exclusivity altogether. Its crowdfunding model allows individuals to pool their money and invest collectively in big-ticket real estate properties, opening up the market to people who aren't necessarily high-net-worth investors and elite institutions.&nbsp;</p>
<h3> Investing in real estate ... from your phone</h3>
<p>Fundrise was founded in 2012 by brothers Ben and Dan Miller (CEO and president, respectively), who knew there was real demand for online real estate investing that offered <a href="https://fundrise.com/investing-with-fundrise?event=business-insider-2" target="_blank">low minimums with maximum transparency</a>.&nbsp;</p>
<p>Their model has rapidly gained traction. As Ben Miller puts it,&nbsp;"When we were getting started, people told us that we were crazy, that investing in real estate online was impossible. Today we have close to 60,000 users and have seen a 1500% growth in assets under management since our Series A funding last May."</p>
<p>By logging into Fundrise, you can literally invest in iconic properties like 3 World Trade Center in New York City, right from your phone.</p>
<p>And diversification becomes a lot easier. According to one investor, whereas a real estate equity firm might take your $250,000 and put it toward five or six buildings via a process that's slow and "very painful," with Fundrise, "you can invest in 50 different buildings for the same amount of money ... and get capital deployed a lot faster."</p>
<p>It's clear that Fundrise is becoming a big deal not just in the rarefied world of commercial real estate investing, but also in the FinTech industry itself, by marrying sophisticated technology with high-quality investment offerings. “Technology has enabled us to quickly expand around the country to source the highest quality deals," Dan Miller explains. "We find the needles in the haystack that others can't because of the sheer volume of opportunities we see.”</p>
<p>Theirs is a classic tale of market innovation. By recognizing the need and doing what traditional models can’t, Fundrise is rewriting the rules of commercial real estate investing — for good.</p>
<p><a href="https://fundrise.com?event=business-insider-2" target="_blank"><strong>Learn more about crowdfunded real estate investing with Fundrise.</strong></a></p>
<p><em>This post is sponsored by <a href="https://fundrise.com/" target="_blank">Fundrise</a>.</em></p>
<p>Find out <a href="http://www.businessinsider.com/sponsor-posts">more about Sponsored Content</a>.</p><p><a href="http://www.businessinsider.com/sc/real-estate-opportunity-in-fintech-2015-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/bloomberg-wins-23-million-bidding-war-for-london-mansion-2015-7Billionaire Michael Bloomberg just won a bidding war for this historic London mansionhttp://www.businessinsider.com/bloomberg-wins-23-million-bidding-war-for-london-mansion-2015-7
Mon, 27 Jul 2015 13:54:56 -0400Dennis Green
<p><img src="http://static1.businessinsider.com/image/55b64c40371d22723a8b7b30-1024-512/lcd130195_06.jpg" alt="Bloomberg London Mansion" data-mce-source="Strutt and Parker Real Estate" /></p><p></p>
<p>Former New York City Mayor Michael Bloomberg has acquired prime property in central London, and it didn't come easy. Although the mansion <a href="http://search.struttandparker.com/property-for-sale-in-england/london/cheyne-walk-chelsea-london-sw3/46596">was listed</a> for $23.4 million, it was purchased by Bloomberg for $26.5 million after a bidding war broke out among interested parties, <a href="http://www.dailymail.co.uk/news/article-3175937/Former-New-York-mayor-Michael-Bloomberg-buys-17m-seven-bed-Thames-mansion-owned-George-Eliot.html">according to the Daily Mail</a>.</p>
<p>The mansion is a historic building that sits along the River Thames and can be accessed only by a private road.</p>
<p>Bloomberg also owns a $31 million abode in the Knightsbridge section of London. As <a href="http://www.nytimes.com/2013/02/08/nyregion/bloomberg-builds-an-empire-in-london.html?_r=1" target="_blank">reported by The New York Times</a>, the gigantic new London headquarters of Bloomberg LP will be completed by 2016.</p>
<p>Lulu Egerton of Strutt &amp; Parker Real Estate <a href="http://search.struttandparker.com/property-for-sale-in-england/london/cheyne-walk-chelsea-london-sw3/46596">handled the listing</a><a href="http://search.struttandparker.com/property-for-sale-in-england/london/cheyne-walk-chelsea-london-sw3/46596">​</a>.</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/33-ridiculously-cool-buildings-of-the-future-2015-7" >33 ridiculously cool buildings of the future</a></strong></p>
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<h3>Bloomberg's newest address rests in the exclusive Cheyne Walk section of London's Chelsea neighborhood, on the banks of the River Thames.</h3>
<img src="http://static3.businessinsider.com/image/55b641552acae74c2f8b7b5f-400-300/bloombergs-newest-address-rests-in-the-exclusive-cheyne-walk-section-of-londons-chelsea-neighborhood-on-the-banks-of-the-river-thames.jpg" alt="" />
<br/><br/><h3>The residence is described as a "Grade II* listed building," which is London real estate speak for a historical building that's part of the slim 5.5% of Grade II listings on the market.</h3>
<img src="http://static1.businessinsider.com/image/55b641552acae72c008ba361-400-300/the-residence-is-described-as-a-grade-ii-listed-building-which-is-london-real-estate-speak-for-a-historical-building-thats-part-of-the-slim-55-of-grade-ii-listings-on-the-market.jpg" alt="" />
<p><p>Source: <a href="https://historicengland.org.uk/listing/what-is-designation/listed-buildings/">Historic England</a></p></p>
<br/><br/><h3>The house was originally built in 1715.</h3>
<img src="http://static1.businessinsider.com/image/55b641552acae70f008ba2b7-400-300/the-house-was-originally-built-in-1715.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/bloomberg-wins-23-million-bidding-war-for-london-mansion-2015-7#/#its-historic-grandeur-is-complemented-by-period-furniture-and-fixtures-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/slacking-red-bull-backflip-sport-baylines-2015-6">People doing backflips on a two-inch wide strap is a real sport called slacklining</a></p> http://www.businessinsider.com/tour-americas-most-expensive-house-for-sale-2015-7Take a tour of the most expensive house for sale in Americahttp://www.businessinsider.com/tour-americas-most-expensive-house-for-sale-2015-7
Mon, 27 Jul 2015 11:29:37 -0400Brittany Fowler
<p><img src="http://static1.businessinsider.com/image/55b28cff371d22472c8b75ef-3520-1760/whittle02.jpg" alt="Whittle02" data-mce-source="Courtesy of Christie&rsquo;s International Real Estate" /></p><p></p>
<p>This 1930s-built estate, called "Briar Patch," in East Hampton, New York, is the most expensive home&nbsp;for sale in the US, according to <a href="http://www.zillowgroup.com/" target="_blank">Zillow Group</a><span>, the largest real-estate network on the web.</span></p>
<p>Perched on a well-manicured knoll, the $140 million property&nbsp;skirts 1,156 feet along&nbsp;Georgica Pond and offers views of the Atlantic Ocean.&nbsp;Built in 1931 and renovated in 1990 by renowned architect <a href="http://www.petermarinoarchitect.com/www/#/home" target="_blank">Peter Marino</a>, it&nbsp;has even earned a spot on the <a href="http://www.nps.gov/nr/" target="_blank">National Register of Historic Places</a>.&nbsp;</p>
<p><span>The current owners, Chris Whittle and his wife Priscilla Rattazzi, bought the 10,000-square-foot home in 1989. Once the publisher of Esquire magazine, Whittle is the co-founder of&nbsp;<a href="http://www.businessinsider.com/avenues-private-school-new-york-city-photos-2011-8" target="_blank">Avenues: The World School</a>, an elite private school in Manhattan.&nbsp;</span>Peter Turino&nbsp;of Brown Harris Stevens,&nbsp;<span>associated with Christie&rsquo;s International Real Estate,</span>&nbsp;holds the <a href="https://bhshamptons.com/east-hampton-ny-11-2-acre-waterfront-estate-for-sale-45456-11011251/" target="_blank">listing</a>&nbsp;for the Briar Patch.</p>
<p>Keep scrolling for an inside-out tour of America's most expensive house for sale.&nbsp;</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/the-15-most-expensive-houses-for-sale-in-america-2015-7" >The 15 most expensive houses for sale in America</a></strong></p>
<p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/countryside-chic-east-hampton-estate-priced-at-55-million-2015-6?op=1#ixzz3gpLhrROD" >This $55 million country estate is unbelievably idyllic — even for the Hamptons</a></strong></p>
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<h3>Sitting on 11.2 acres of land, the property has two lots. The listing touts the open lot as a prime spot for a private art gallery, conservatory, spa/gym, or guesthouse.</h3>
<img src="http://static6.businessinsider.com/image/55b2622f2acae7a6098b993c-400-300/sitting-on-112-acres-of-land-the-property-has-two-lots-the-listing-touts-the-open-lot-as-a-prime-spot-for-a-private-art-gallery-conservatory-spagym-or-guesthouse.jpg" alt="" />
<br/><br/><h3>The main residence, known as the Shepard Krech House, has 10,300 square feet of living space, four fireplaces, and a library.</h3>
<img src="http://static2.businessinsider.com/image/55b264dc2acae78a008b9cd7-400-300/the-main-residence-known-as-the-shepard-krech-house-has-10300-square-feet-of-living-space-four-fireplaces-and-a-library.jpg" alt="" />
<br/><br/><h3>Design details such as tray ceilings with hand-stenciling add to the hefty price tag.</h3>
<img src="http://static2.businessinsider.com/image/55b264b12acae72d5f8b9200-400-300/design-details-such-as-tray-ceilings-with-hand-stenciling-add-to-the-hefty-price-tag.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/tour-americas-most-expensive-house-for-sale-2015-7#/#expansive-porches-on-the-ground-floor-are-surrounded-by-greenery-and-the-soothing-ebb-and-flow-of-georgica-pond-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/jeff-sachs-biggest-threat-human-race-technology-2015-5">Economist Jeff Sachs reveals the biggest threat to the human race </a></p> http://www.businessinsider.com/blankfein-puts-hamptons-home-on-market-for-17-million-2015-7Take a tour of Goldman Sachs CEO Lloyd Blankfein's $17 million Hamptons homehttp://www.businessinsider.com/blankfein-puts-hamptons-home-on-market-for-17-million-2015-7
Sun, 26 Jul 2015 08:02:00 -0400Lucinda Shen
<p><img style="float:right;" src="http://static6.businessinsider.com/image/55afbae62acae711008b8d7a-1016-762/screen shot 2015-07-21 at 10.20.19 am.png" alt="Screen Shot 2015 07 21 at 10.20.19 AM" data-mce-source="Sotheby's International Realty" /></p><p>Goldman Sachs CEO Lloyd Blankfein is trying to sell his Sagaponack, New York, estate again &mdash; with a 20% markup on its listing in 2012, <a href="http://www.businessinsider.com/lloyd-blankfein-is-selling-one-of-his-mansions-2015-7">The Real Deal's Claire Moses reported</a>.</p>
<p>The <a href="http://www.businessinsider.com/goldman-sachs-billionaire-ceo-lloyd-blankfein-net-worth-2015-7">freshly minted billionaire</a> put the Parsonage Lane property up for $17 million with Sotheby's International Realty. A sale would reduce Blankfein's <a href="http://www.bloomberg.com/news/articles/2015-07-17/blankfein-becomes-billionaire-riding-goldman-s-shares-to-riches">$73 million in personal real-estate holdings</a>, Bloomberg reported.</p>
<p>Blankfein has repeatedly tried to sell the property since 2007, reportedly asking for $14 million for the mansion in 2012.</p>
<p>This isn't the chief executive's only Hamptons home &mdash; in 2012, the&nbsp;<a href="http://www.businessinsider.com/blankfein-buys-32m-bridgehampton-home-2012-12?op=1">CEO bought another house in Bridgehampton</a>&nbsp;worth $32.5 million.</p>
<p>Blankfein bought the property in 1995 and commissioned architect Larry Randolf and builders Men at Work to complete the mansion in 2001. The property has seven bedrooms, five full baths, a heated pool and tennis courts, according to the real-estate listing.</p>
<p>Meanwhile &mdash; as Blankfein tries to sell the property &mdash; take a look around.</p><h3>Welcome to Lloyd Blankfein's summer home in the South Hamptons — priced at $17 million. Architects capped off the romantic estate with a barn-style roof.</h3>
<img src="http://static1.businessinsider.com/image/55ae5ba3371d22472c8b6007-400-300/welcome-to-lloyd-blankfeins-summer-home-in-the-south-hamptons--priced-at-17-million-architects-capped-off-the-romantic-estate-with-a-barn-style-roof.jpg" alt="" />
<br/><br/><h3>The front doors open into a simple foyer. Light streams in from floor-to-ceiling windows on nearly every wall.</h3>
<img src="http://static2.businessinsider.com/image/55ae5bc4371d22dc0b8b75a4-400-300/the-front-doors-open-into-a-simple-foyer-light-streams-in-from-floor-to-ceiling-windows-on-nearly-every-wall.jpg" alt="" />
<br/><br/><h3>Take a seat in the summery, beige and cream-colored classic living room.</h3>
<img src="http://static5.businessinsider.com/image/55ae58792acae700448b5eb7-400-300/take-a-seat-in-the-summery-beige-and-cream-colored-classic-living-room.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/blankfein-puts-hamptons-home-on-market-for-17-million-2015-7#/#get-a-drink-in-the-gorgeous-cherry-wood-kitchen-check-out-the-archway-wine-rack-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/waterfall-climbing-fish-goby-evolution-hawaii-2015-5">Scientists are astonished by these Goby fish that can climb 300-foot waterfalls</a></p> http://www.businessinsider.com/95-million-condo-up-for-sale-burnt-corcoran-2015-7'No. 1 King of All Fun' is selling his massive Hamptons estate for $95 millionhttp://www.businessinsider.com/95-million-condo-up-for-sale-burnt-corcoran-2015-7
Sat, 25 Jul 2015 11:12:00 -0400Lucinda Shen and Julia La Roche
<p><img style="float:right;" src="http://static4.businessinsider.com/image/55ad3c7e2acae78a008b8316-3600-2700/burnt point aerial 1.jpg" alt="Burnt Point Aerial 1" data-mce-source="Corcoran Group Real Estate" /></p><p>A billionaire's massive and secluded estate on Georgica Pond in Wainscott, New York, is on the market for $95 million.</p>
<p>Pharmaceutical billionaire Stewart Rahr, the self-proclaimed <a href="http://www.forbes.com/profile/stewart-rahr/">"No. 1 King of All Fun</a>," told <a href="http://www.nytimes.com/2015/07/19/realestate/sprawling-and-secluded-in-wainscott-long-island-for-95-million.html">The New York Times</a> that he's selling "Burnt Point" because he now summers in Europe.</p>
<p>The 25-acre piece of land was originally purchased by commodities trader David Campbell in 1996 for $10 million, <a href="http://www.forbes.com/2002/03/01/0301home.html">according to Forbes</a>.</p>
<p>Campbell had architect Francis Fleetwood design the sprawling 18,000-square-foot eight-bedroom house. In 2004, the estate was sold to Rahr for $45 million, which was the <a href="http://www.nytimes.com/2004/12/31/nyregion/31mansion.html?_r=0">most expensive home ever sold</a> in the state of New York at the time.</p>
<p>Rahr recently transferred ownership of the property to his charitable foundation, The New York Times report said.&nbsp;<a href="http://www.corcoran.com/hamptons/Listings/Display/3481860#WebID=16722">Corcoran</a> has the listing. It's definitely a dreamy summer home. Now, we're going to take a tour.</p><h3>This is Stewart Rahr, aka Stewie Rah Rah and the No. 1 King of All Fun, as he refers to himself.</h3>
<img src="http://static4.businessinsider.com/image/55ad4f03371d2277018b7e48-400-300/this-is-stewart-rahr-aka-stewie-rah-rah-and-the-no-1-king-of-all-fun-as-he-refers-to-himself.jpg" alt="" />
<br/><br/><h3>Welcome to the Burnt Point Estate at Wainscott, built in 1997.</h3>
<img src="http://static3.businessinsider.com/image/55ad30eb2acae711008b8143-400-300/welcome-to-the-burnt-point-estate-at-wainscott-built-in-1997.jpg" alt="" />
<br/><br/><h3>If you're flying in from the nearby East Hampton Airport, this would be your view. The two-floor, 18,000-sq.-ft. estate rests on a 24-acre property with many amenities.</h3>
<img src="http://static3.businessinsider.com/image/55ad397f371d22a40e8b7bdb-400-300/if-youre-flying-in-from-the-nearby-east-hampton-airport-this-would-be-your-view-the-two-floor-18000-sq-ft-estate-rests-on-a-24-acre-property-with-many-amenities.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/95-million-condo-up-for-sale-burnt-corcoran-2015-7#/#driving-in-youll-approach-a-portico-with-a-lovely-view-of-the-waterside-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/slacking-red-bull-backflip-sport-baylines-2015-6">People doing backflips on a two-inch wide strap is a real sport called slacklining</a></p> http://www.businessinsider.com/uber-investor-jason-calacanis-is-selling-his-los-angeles-home-for-3-million-2015-7Early Uber investor and serial entrepreneur Jason Calacanis is selling his Los Angeles home for $3 millionhttp://www.businessinsider.com/uber-investor-jason-calacanis-is-selling-his-los-angeles-home-for-3-million-2015-7
Fri, 24 Jul 2015 10:59:19 -0400Madeline Stone
<p><span><img style="float:right;" src="http://static1.businessinsider.com/image/55b24cac371d2215008b9547-3375-2531/2105268510_a35cdee2bf_o.jpg" alt="Jason Calacanis" data-mce-source="Flickr/Joi Ito" />Serial entrepreneur Jason Calacanis &mdash; who founded Weblogs, Mahalo.com, and Inside.com in addition to investing in Uber and Tumblr &mdash; is officially leaving Los Angeles behind.</span></p>
<p>Calacanis&nbsp;<a href="http://woodburndrive.com/details">has listed</a> his four-bedroom home in Brentwood for $2.998 million. He told Business Insider that he and his family have moved to San Francisco full-time.&nbsp;</p>
<p><span>"We were splitting time between SF and LA, but we are now firmly planted in SF working on my Launch incubator," Calacanis said. "We just don't use the house any more."</span></p>
<p><span>The home has some beautiful details, like a bright sun room and a large swimming pool.&nbsp;</span></p>
<p><span>"<span>The house is delightful, especially for a New Yorker born and bred in Brooklyn," Calacanis said. "I<span>t has a huge pool, which I always dreamed of having back when we lived in Bay Ridge."&nbsp;</span></span></span></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/google-billionaire-eric-schmidts-incredible-real-estate-portfolio-2015-7" >The incredible real estate portfolio of Google billionaire Eric Schmidt</a></strong></p>
<h3>The home, built in 1940, is located in Los Angeles' well-to-do Brentwood neighborhood.</h3>
<img src="http://static3.businessinsider.com/image/55b2406a371d2277018b93bd-400-300/the-home-built-in-1940-is-located-in-los-angeles-well-to-do-brentwood-neighborhood.jpg" alt="" />
<br/><br/><h3>Inside, there's lots of space to lounge in comfort.</h3>
<img src="http://static6.businessinsider.com/image/55b24141371d2232008b948e-400-300/inside-theres-lots-of-space-to-lounge-in-comfort.jpg" alt="" />
<br/><br/><h3>One corner serves as an informal eating area.</h3>
<img src="http://static2.businessinsider.com/image/55b24131371d22c6178b7fb3-400-300/one-corner-serves-as-an-informal-eating-area.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/uber-investor-jason-calacanis-is-selling-his-los-angeles-home-for-3-million-2015-7#/#but-theres-a-more-formal-dining-room-too-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/slacking-red-bull-backflip-sport-baylines-2015-6">People doing backflips on a two-inch wide strap is a real sport called slacklining</a></p> http://www.businessinsider.com/google-billionaire-eric-schmidts-incredible-real-estate-portfolio-2015-7The incredible real-estate portfolio of Google billionaire Eric Schmidt (GOOG)http://www.businessinsider.com/google-billionaire-eric-schmidts-incredible-real-estate-portfolio-2015-7
Fri, 24 Jul 2015 09:00:00 -0400Madeline Stone
<p><img style="float:right;" src="http://static5.businessinsider.com/image/55b134b12acae74c2f8b6f4a-828-621/eric schmidt montecito.jpg" alt="eric schmidt montecito" data-mce-source="Win McNamee/Getty Images, Sotheby's International Realty" /></p><p>With an <a href="http://www.forbes.com/profile/eric-schmidt/">estimated net worth</a> of $10.2 billion, Google chairman Eric Schmidt can certainly afford a splurge or two.</p>
<p>Schmidt is known for leading a pretty fabulous lifestyle, packed with models and parties on his $72 million yacht, "Oasis."</p>
<p>Schmidt has also amassed an impressive collection of properties over the years, from his primary residence in ritzy Atherton, California, to his New York City penthouse.</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/google-engineer-brooklyn-home-sold-for-12-million-2015-7" >A former Google engineer sold his gorgeous Brooklyn mansion for $12.4 million</a></strong></p>
<h3>Schmidt's primary residence is a five-bedroom home in Atherton, California, an affluent city in the heart of Silicon Valley. He purchased the home for $2 million in 1990, but it's worth about $6.97 million today, according to estimates by the real-estate tracker Zillow.</h3>
<img src="http://static2.businessinsider.com/image/55b127cc2acae7f4028b95f7-400-300/schmidts-primary-residence-is-a-five-bedroom-home-in-atherton-california-an-affluent-city-in-the-heart-of-silicon-valley-he-purchased-the-home-for-2-million-in-1990-but-its-worth-about-697-million-today-according-to-estimates-by-the-real-estate-tracker-zillow.jpg" alt="" />
<p><p><em>Source: <a href="http://www.zillow.com/homedetails/366-Walsh-Rd-Atherton-CA-94027/15597875_zpid/">Zillow</a></em></p></p>
<br/><br/><h3>The mansion has more than 4,800 square feet of space and a swimming pool.</h3>
<img src="http://static4.businessinsider.com/image/55b12918371d2210008b902d-400-300/the-mansion-has-more-than-4800-square-feet-of-space-and-a-swimming-pool.jpg" alt="" />
<br/><br/><h3>But that's not the only California property Schmidt owns. He bought this 7,000-square-foot home in Montecito, California, from Ellen DeGeneres and Portia de Rossi in 2007. The reported price was $20 million.</h3>
<img src="http://static6.businessinsider.com/image/55b116912acae78a008b964c-400-300/but-thats-not-the-only-california-property-schmidt-owns-he-bought-this-7000-square-foot-home-in-montecito-california-from-ellen-degeneres-and-portia-de-rossi-in-2007-the-reported-price-was-20-million.jpg" alt="" />
<p><p><em>Source: <a href="http://www.businessinsider.com/most-expensive-homes-in-tech-2014-8?op=1">Business Insider</a></em></p></p>
<br/><br/><a href="http://www.businessinsider.com/google-billionaire-eric-schmidts-incredible-real-estate-portfolio-2015-7#/#the-estate-has-a-large-backyard-area-with-a-swimming-pool-a-tennis-court-and-lots-of-spanish-inspired-decor-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/silk-road-founder-convicted-of-all-counts-2015-5">Here's the incredible story behind the guy who was just sentenced to life for creating the 'eBay for drugs'</a></p> http://www.businessinsider.com/how-much-real-estate-top-paid-baseball-players-can-afford-2015-7This graphic uses top MLB salaries to put New York's record-breaking apartment prices into perspectivehttp://www.businessinsider.com/how-much-real-estate-top-paid-baseball-players-can-afford-2015-7
Thu, 23 Jul 2015 16:26:00 -0400Dennis Green
<p>Major League Baseball players are well compensated for their talents. But when it comes to luxury real estate, even the top-paid players&nbsp;are better off avoiding&nbsp;the field in New York.&nbsp;</p>
<p>During the recent MLB All-Stars Game,&nbsp;<a href="http://www.cityrealty.com/">CityRealty</a>&nbsp;took a look at how some of the highest-earning All Stars might fare in the New York real estate market &mdash; where the average apartment price recently <a href="http://www.6sqft.com/average-sale-price-in-manhattan-hits-record-high-at-1-8m/" target="_blank">hit a record $1.87 million</a> &mdash; versus that of their teams' hometowns.</p>
<p>For example,&nbsp;Los Angeles Dodgers pitcher and best-paid All-Star&nbsp;<span>Zach Greinke's annual salary is enough to buy 26 houses in LA &mdash; or one penthouse in Manhattan's&nbsp;</span>50 United Nations Plaza.</p>
<p>Check out the full breakdown below.&nbsp;</p>
<p><img src="http://static1.businessinsider.com/image/55b146d5371d2212008b91d9-4200-2550/all stars infographic 7.23.jpg" alt="All Stars Infographic 7.23" data-mce-source="Courtesy CityRealty" /></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/the-10-most-expensive-homes-for-sale-in-new-york-city-2015-7" >The 10 most expensive homes you can buy in New York City right now</a></strong></p>
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<p><a href="http://www.businessinsider.com/how-much-real-estate-top-paid-baseball-players-can-afford-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/omaha-steaks-unboxed-mail-order-2015-5">Here's what you get when you order 'Omaha Steaks' in the mail</a></p> http://www.businessinsider.com/de-guigne-heir-drastically-reduces-estate-price-2015-7Unbelievable California estate gets price dropped by $60 million, no longer comes with 78-year-old manhttp://www.businessinsider.com/de-guigne-heir-drastically-reduces-estate-price-2015-7
Thu, 23 Jul 2015 13:37:52 -0400Dennis Green
<p><img src="http://static6.businessinsider.com/image/55b1162d2acae700448b6d52-960-480/476331-full.jpg" alt="De Guigne Court" data-mce-source="GULLIXSON" /></p><p></p>
<p>Before Silicon Valley was ever known as such, there were plenty of billionaires and multi-millionaires building extravagant, hill-top homes.</p>
<p>One such mansion was built by the&nbsp;<span>de Guign&eacute;s</span>, a family of French nobility who emigrated in the 19th century and enmeshed themselves with San Francisco's elite.</p>
<p>Seventy-eight-year-old heir Christian de Guign<span>&eacute;</span> IV is now trying to sell&nbsp;his family's Gilded Age estate &mdash; called&nbsp;<span>de Guign<span>&eacute;</span> Court &mdash;</span> which hasn't changed hands in 150 years.&nbsp;This will be his&nbsp;second attempt at offloading the property, which has been cut&nbsp;from $100 million to $40 million and no longer includes a condition that granted&nbsp;<span>de Guign</span><span>&eacute; "lifelong use" of the home.&nbsp;</span></p>
<p><span>Keep scrolling to take a tour of the house and learn more about its strange terms of sale.&nbsp;</span></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/the-15-most-expensive-houses-for-sale-in-america-2015-7" >The 15 most expensive houses for sale in America</a></strong></p>
<p><strong>DON'T FORGET:&nbsp;<a href="https://www.facebook.com/Businessinsider.Life" >Follow Business Insider's lifestyle page on Facebook!</a></strong></p>
<h3>Nestled at the top of the hills overlooking the Santa Clara Valley sits a 47-acre estate with a fascinating history.</h3>
<img src="http://static1.businessinsider.com/image/55b104c0371d2232008b8f4d-400-300/nestled-at-the-top-of-the-hills-overlooking-the-santa-clara-valley-sits-a-47-acre-estate-with-a-fascinating-history.jpg" alt="" />
<br/><br/><h3>The estate has spent 150 years in the de Guigné family, who are descended from French nobility and rose to prominence in the early 20th century after a number of successful business ventures.</h3>
<img src="http://static3.businessinsider.com/image/55b10477371d22ce178b8cce-400-300/the-estate-has-spent-150-years-in-the-de-guign-family-who-are-descended-from-french-nobility-and-rose-to-prominence-in-the-early-20th-century-after-a-number-of-successful-business-ventures.jpg" alt="" />
<br/><br/><h3>The grandson of Christian II, who built the mansion, Christian de Guigné IV is now seemingly desperate to sell his family home.</h3>
<img src="http://static3.businessinsider.com/image/55b104a8371d22472c8b6cc4-400-300/the-grandson-of-christian-ii-who-built-the-mansion-christian-de-guign-iv-is-now-seemingly-desperate-to-sell-his-family-home.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/de-guigne-heir-drastically-reduces-estate-price-2015-7#/#de-guign-put-the-mansion-up-for-sale-in-2013-for-an-asking-price-of-100-million-he-also-had-a-clause-in-the-homes-contract-that-the-buyer-must-let-him-live-out-the-rest-of-his-days-in-the-house-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/adderall-add-adhd-amphetamine-drug-effects-body-2015-6">What Adderall is actually doing to your body</a></p> http://www.businessinsider.com/were-all-clueless-about-the-value-of-our-homes-2015-7We're all clueless about the value of our homeshttp://www.businessinsider.com/were-all-clueless-about-the-value-of-our-homes-2015-7
Thu, 23 Jul 2015 13:33:00 -0400LAUREN BRAUN
<p><img style="float:right;" src="http://static6.businessinsider.com/image/55b11efb371d22dc0b8b836a-1156-867/houses-cold-spring-new-york.jpg" alt="houses cold spring new york" data-mce-source="Flickr / Shinya Suzuki" /></p><p>A home is the biggest investment most Americans will ever make, yet most of us know surprisingly little about our largest asset, according to Zillow&rsquo;s Housing Confidence Index.</p>
<p>Twenty-five percent of Americans think there was no growth in <a href="http://www.zillow.com/home-values/" target="_blank">home values</a> last year, when in fact, home values grew 4 percent nationally and by double digits in more than 65 metros across the country.</p>
<p>The divide between what homeowners thought happened to home values and what actually occurred was especially notable in Florida this past year.</p>
<p>In 2014, home values in South Florida grew by 12 percent &mdash; or&nbsp;nearly $23,000 per home&nbsp;&mdash; yet more than a fifth (22 percent) of South Floridians didn&rsquo;t think values changed at all. In <a href="http://www.zillow.com/tampa-fl/home-values/" target="_blank">Tampa</a>, home values were up 9 percent over last year &mdash; giving homeowners an extra $12,300 in value &mdash; but 45 percent of Tampa residents still think home values remained flat or fell.</p>
<p>Bostonians had the most people (23 percent) who correctly judged how their home values had changed &mdash; or in their case, not changed. Unlike the other metros surveyed, <a href="http://www.zillow.com/boston-ma/home-values/" target="_blank">Boston home values</a> really did stay flat. While most metros had people underestimating how much home values grew, 64 percent of Boston residents missed the mark in the other direction and overestimated home value growth.</p>
<p>People in Washington, DC had the best sense of actual home value growth over the past year, with 21 percent of people able to accurately identify that <a href="http://www.zillow.com/washington-dc/home-values/" target="_blank">DC home values</a> rose between 1 percent and 3 percent. (They actually rose 1.8 percent.) Still, more people (28 percent) thought home values stayed flat.</p>
<p>See how well other metros evaluated their local markets in the graphic below.</p>
<p><img src="http://static5.businessinsider.com/image/55b11e47371d2210008b8faf-900-1833/blog_zhci_zillow_b-216329.jpg" alt="Blog_ZHCI_Zillow_b 216329" data-mce-source="Zillow" data-link="http://www.zillow.com/blog/housing-confidence-index-180059/" /></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/15-words-that-can-add-value-to-your-homes-listing-2015-3" >15 words that can make your home seem more valuable when you put it on the market</a></strong></p>
<p><a href="http://www.businessinsider.com/were-all-clueless-about-the-value-of-our-homes-2015-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/will-smiths-former-hawaiian-estate-just-hit-the-market-for-295-million-2015-7The Russian heiress who bought Will Smith's former Hawaiian estate is selling it for $29.5 millionhttp://www.businessinsider.com/will-smiths-former-hawaiian-estate-just-hit-the-market-for-295-million-2015-7
Wed, 22 Jul 2015 15:32:25 -0400Brittany Fowler
<p><img style="float:right;" src="http://static1.businessinsider.com/image/55aea1cf2acae74c2f8b6283-2360-1770/aerial.jpg" alt="Will Smith aerial" data-mce-source="Courtesy of Roni Marley/Hawaii Life Real Estate" /></p><p>Back in 2009, Will Smith forked over $13.5 million and said aloha to a&nbsp;seven-acre Hawaiian home along Kauai's North Shore.</p>
<p>As reported&nbsp;by <a href="http://www.wsj.com/articles/russian-heiress-ekaterina-rybolovleva-lists-large-kauai-estate-1437083679?ref=/real-estate-luxury" target="_blank">The Wall Street Journal</a>, he sold it off-market for $20 million to a trust connected to <a href="http://www.businessinsider.com/ekaterina-rybolovleva-bought-skorpios-2013-4" target="_blank">Ekaterina&nbsp;Rybolovleva</a>&nbsp;&mdash; heiress and daughter of Russian oligarch Dmitry Rybolovlev.</p>
<p>The trust added an additional 21 acres to the property, and all 28-plus acres are up for grabs.&nbsp;</p>
<p><a href="http://www.hawaiilife.com/agents/roni+marley" target="_blank">Roni Marley</a> of <a href="http://www.hawaiilife.com" target="_blank">Hawaii Life Real Estate Brokers</a> holds the <a href="http://www.hawaiilife.com/mls/-tall-a65459/286218" target="_blank">listing</a>.&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p><h3>With three additional building sites for either separate homes or a massive estate, the listing calls the property "a canvas waiting for the right artist's touch."</h3>
<img src="http://static1.businessinsider.com/image/55aea0e02acae7b7188b85a1-400-300/with-three-additional-building-sites-for-either-separate-homes-or-a-massive-estate-the-listing-calls-the-property-a-canvas-waiting-for-the-right-artists-touch.jpg" alt="" />
<br/><br/><h3>The nearby Princeville Resort means you're minutes away from award-winning golf courses and fine dining.</h3>
<img src="http://static2.businessinsider.com/image/55aea0fc2acae710008b8a7c-400-300/the-nearby-princeville-resort-means-youre-minutes-away-from-award-winning-golf-courses-and-fine-dining.jpg" alt="" />
<br/><br/><h3>Built in 2006, the three bedroom, three-and-a-half bath home includes 2,715 square feet of interior living space with ocean, mountain, and coastal vista views.</h3>
<img src="http://static1.businessinsider.com/image/55aea0942acae716008b89cd-400-300/built-in-2006-the-three-bedroom-three-and-a-half-bath-home-includes-2715-square-feet-of-interior-living-space-with-ocean-mountain-and-coastal-vista-views.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/will-smiths-former-hawaiian-estate-just-hit-the-market-for-295-million-2015-7#/#a-breakfast-bar-welcomes-leisurely-mornings-spent-sipping-coffee-and-catching-up-on-the-news-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/song-made-using-coins-drummer-music-video-2015-7">This drummer created a whole song by only using the sound of coins</a></p> http://www.businessinsider.com/blankfein-puts-hamptons-home-on-market-for-17-million-2015-7Take a tour of Goldman Sachs CEO Lloyd Blankfein's $17 million Hamptons homehttp://www.businessinsider.com/blankfein-puts-hamptons-home-on-market-for-17-million-2015-7
Wed, 22 Jul 2015 10:35:17 -0400Lucinda Shen
<p><img style="float:right;" src="http://static6.businessinsider.com/image/55afbae62acae711008b8d7a-1016-762/screen shot 2015-07-21 at 10.20.19 am.png" alt="Screen Shot 2015 07 21 at 10.20.19 AM" data-mce-source="Sotheby's International Realty" /></p><p>Goldman Sachs CEO Lloyd Blankfein is trying to sell his Sagaponack, New York, estate again &mdash; with a 20% markup on its listing in 2012, <a href="http://www.businessinsider.com/lloyd-blankfein-is-selling-one-of-his-mansions-2015-7">The Real Deal's Claire Moses reported</a>.</p>
<p>The <a href="http://www.businessinsider.com/goldman-sachs-billionaire-ceo-lloyd-blankfein-net-worth-2015-7">freshly minted billionaire</a> put the Parsonage Lane property up for $17 million with Sotheby's International Realty. A sale would reduce Blankfein's <a href="http://www.bloomberg.com/news/articles/2015-07-17/blankfein-becomes-billionaire-riding-goldman-s-shares-to-riches">$73 million in personal real-estate holdings</a>, Bloomberg reported.</p>
<p>Blankfein has repeatedly tried to sell the property since 2007, reportedly asking for $14 million for the mansion in 2012.</p>
<p>This isn't the chief executive's only Hamptons home &mdash; in 2012, the&nbsp;<a href="http://www.businessinsider.com/blankfein-buys-32m-bridgehampton-home-2012-12?op=1">CEO bought another house in Bridgehampton</a>&nbsp;worth $32.5 million.</p>
<p>Blankfein bought the property in 1995 and commissioned architect Larry Randolf and builders Men at Work to complete the mansion in 2001. The property has seven bedrooms, five full baths, a heated pool and tennis courts, according to the real-estate listing.</p>
<p>Meanwhile &mdash; as Blankfein tries to sell the property &mdash; take a look around.</p><h3>Welcome to Lloyd Blankfein's summer home in the South Hamptons — priced at $17 million. Architects capped off the romantic estate with a barn-style roof.</h3>
<img src="http://static1.businessinsider.com/image/55ae5ba3371d22472c8b6007-400-300/welcome-to-lloyd-blankfeins-summer-home-in-the-south-hamptons--priced-at-17-million-architects-capped-off-the-romantic-estate-with-a-barn-style-roof.jpg" alt="" />
<br/><br/><h3>The front doors open into a simple foyer. Light streams in from floor-to-ceiling windows on nearly every wall.</h3>
<img src="http://static2.businessinsider.com/image/55ae5bc4371d22dc0b8b75a4-400-300/the-front-doors-open-into-a-simple-foyer-light-streams-in-from-floor-to-ceiling-windows-on-nearly-every-wall.jpg" alt="" />
<br/><br/><h3>Take a seat in the summery, beige and cream-colored classic living room.</h3>
<img src="http://static5.businessinsider.com/image/55ae58792acae700448b5eb7-400-300/take-a-seat-in-the-summery-beige-and-cream-colored-classic-living-room.jpg" alt="" />
<br/><br/><a href="http://www.businessinsider.com/blankfein-puts-hamptons-home-on-market-for-17-million-2015-7#/#get-a-drink-in-the-gorgeous-cherry-wood-kitchen-check-out-the-archway-wine-rack-4">See the rest of the story at Business Insider</a> <p>NOW WATCH: <a href="http://www.businessinsider.com/waterfall-climbing-fish-goby-evolution-hawaii-2015-5">Scientists are astonished by these Goby fish that can climb 300-foot waterfalls</a></p>